UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
Michael Kugelman from the U.S.-based Wilson Center says other issues take precedence in the bilateral dialogue between the United States and Pakistan — namely, Afghanistan and...Asia Politicsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday afternoon, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
Indian consumers are shopping more on mobile devices, and the country's e-commerce giant is banking on that to grow.
"India is a very, very mobile-centric economy," Punit Soni, chief product officer at online marketplace FlipKart, said Wednesday on CNBC's "Squawk Alley. "
"It's very important to think of product in terms of mobile, in terms of how people will use it on a mobile phone."
FlipKart is growing rapidly, as it raised nearly $2 billion in three separate funding rounds last year. The company holds about 50 percent of the e-commerce market share in India, the world's second-largest country by population, said Mukesh Bansal, FlipKart's head of commerce platforms.
E-commerce "is growing very rapidly" in India, Bansal said on "Squawk Alley." As online shopping gains traction, the nearly 8-year-old company has attempted to court the increasingly tech-savvy Indian consumer.
For instance, it holds an exclusive online sales partnership with Chinese smartphone maker Xiaomi. FlipKart has worked on ensuring that it gives "the right kind of offering" through mobile phones, Bansal said.
He added that FlipKart has yet to take a significant hit from global e-commerce competitors, including Amazon and Alibaba, in the Indian market. He believes the company's established Indian presence gives it an advantage.
"We've also been in the space for the last seven years, so we understand the market really well," Bansal said.